Exhibit 10.23
128 TECHNOLOGY CENTER
PARAMETRIC TECHNOLOGY CORPORATION
AMENDMENT NO. 8
Reference is made to the original lease dated June 1, 1987 and subsequently
amended March 10, 1988, November 9, 1988, November 8, 1989, January 21, 1991,
March 10, 1992, November 25, 1992, June 8, 1993 and April 14, 1994 collectively
(the "Lease") by and between 128 Technology Trust under a Declaration of Trust
dated October 12, 1993, recorded in Middlesex County Registry of Deeds Southern
District, Book 15268, Page 65 (hereinafter "Lessor", which expression shall
include its heirs, executors, successors, and assigns where the context so
admits), and Parametric Technology Corporation, a Massachusetts corporation
having a principal place of business at 128 Technology Drive, Waltham,
Massachusetts 02154 (hereinafter "Lessee", which expression shall include its
successors and assigns or executors and administrators where to context so
admits). Terms defined in or by reference in the Lease not otherwise defined
herein shall have the same meaning herein as therein.
For good and valuable consideration, the receipt of legal sufficiency of which
is hereby acknowledged, Lessor and Lessee hereby agree to amend the Lease as
follows:
AREA: 9,340 + rentable square feet on the fourth (4th
-
floor)
AVAILABILITY: Approximately May 1, 1995
RENT
COMMENCEMENT: Upon availability
RENTAL RATE: $21.00 per rentable square foot through October 31,
1997
$20.50 per rentable square foot through October 31,
1999
TAX & OPERATING
BASE: 1992 Actuals
TERM: For area in this proposal, the term will be for
five (5) years terminating on October 31, 1999.
Also the term of all space will be extended two (2)
additional years October 31, 2001 at $22.00 per
rentable square foot, however, either party may
cancel this last two (2) year extension by
providing the other party prior written notice no
later than October 31, 1998.
RELOCATION RIGHTS: PTC will have the right to relocate up to 50,390
(41,950+ 9,340) rentable square feet to another
Saracen Companies, Inc. property provided PTC gives
at lease six (6) months prior written notice and
receives Landlord's written consent.
Furthermore, PTC will have the right under similar
terms and conditions to relocate to another Saracen
Companies, Inc. building all existing space
(+130,000 rentable square feet) after October 31,
-
1997.
In all other respects, the terms and provisions of the Lease and subsequent
amendments are hereby ratified and confirmed and remain in full force and effect
and unamended.
Executed as a sealed instrument this 19th day of January 1995.
---- -
LESSOR: 128 TECHNOLOGY TRUST
BY: /s/_________________________
----------------------------
Dominic J. Saraceno, as Trustee of
128 Technology Trust
BY: /s/_________________________
----------------------------
Kurt W. Saraceno, as Trustee of
128 Technology Trust
LESSEE: PARAMETRIC TECHNOLOGY CORPORATION
BY: /s/_________________________
----------------------------
TITLE: CFO_________________________
----------------------------